Consolidated statement of financial activities

INCLUDING AN INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2022

Income and endowments from:

Donations and legacies Charitable activities Other trading activities

Turnover of QS Enterprises Ltd

Other fundraising activities Investments

Total income

2022 2021 Unrestricted Restricted Endowment Total Total Funds Funds Funds Funds Funds Note £’000 £’000 £’000 £’000 £’000

3 7,251 8,365 – 15,616 7,804 1,015 – – 1,015 819

4 5,787 – – 5,787 3,892 48 – – 48 37 7 4,058 77 – 4,135 4,252 18,159 8,442 – 26,601 16,804

Expenditure on:

Raising funds

Costs of generating donations and legacies 828 8 – 836 839

Fundraising trading expenditure Operating costs of QS Enterprises Ltd 4 5,061 – – 5,061 4,509 Operating costs of Middlesex Annexe LLP 6 3,569 – – 3,569 9,311 Other 7 – – 7 24

Investment management costs Costs of managing quoted investments 136 9 23 168 177 Costs of managing, maintaining and repairing investment properties 873 – – 873 680 Bank interest and charges on loan relating to investment properties 943 – – 943 573 Charitable activities 8

Medical equipment and infrastructure costs 2,366 607 – 2,973 7,492

Provision of staff and professional services 3,505 4 – 3,509 5,239

Patient welfare and amenities 1,966 4 – 1,970 1,879

Medical research 1,734 2 – 1,736 973

Staff education and development 1,817 2 – 1,819 2,202 Total expenditure 22,805 636 23 23,464 33,898 Net (expenditure)/income before investment gains (4,646) 7,806 (23) 3,137 (17,094) Net gains on investments 15 1,298 67 331 1,696 3,670 Net (expenditure)/income and net movements in funds (3,348) 7,873 308 4,833 (13,424)

Reconciliation of funds

Total funds brought forward 19 132,468 3,589 7,910 143,967 157,391 Total funds carried forward 19 129,120 11,462 8,218 148,800 143,967

All of the group’s activities in the above two financial periods were derived from continuing operations. The notes on pages 33 to 51 form part of these accounts. Detailed comparative information for the year ended 31 March 2021 is given in note 1 to the accounts.